投资银行的专业术语及解释.docx

1、投资银行的专业术语及解释投资银行的专业术语及解释2012年03月02日 20:33:21 The glossary below gives definitions for a number of words and phrases that you will be likely to come across in your application.AAll Ordinaries: A type of bond index.Analyst: A person who contributes strategic data from the studying of financial markets

2、 and components of them.Asset Management: The professional management of the assets of private individuals, or institutions, aimed at the realisation of an optimal investment result.Assets: The resources available to an individual or organisation.BBlock Trade: A trade involving a large quantity of s

3、tock or monetary amount of bonds.Bond: In its simplest form, a bond is a loan under a term of contract for the borrower to repay at a specific date in the future, and at an agreed upon interest rate the amount to the lender. Brokerage: A commission or charge by an intermediary, such as a stockbroker

4、, for the execution of a transaction.CCapital Adequacy: Measure of a companys financial strength, often expressed in equity as a percentage of balance sheet total.Clearing and Settlement: A process of completing a transaction.Commercial Paper: Debt instrument issued by large companies with a term of

5、 1 to 12 months as an alternative to bank borrowings.Commission: Payments made by the provider of a product to its seller for its sale/maintenance.Convertible Bond: A credit instrument which is convertible into equity. Corporate Bond: Obligations issued by corporations.Corporate Finance: Activities

6、in fields of mergers, acquisitions, privatisations, advisory services and origination.Credit Rating: The assessment of the financial situation of a country, company or institution to establish creditworthiness.Currency: Money in circulation as a means of financial exchange.Currency Risk: Price risk

7、relating to exchange rates fluctuations.DDerivatives: Financial instruments whose value is derived from the price of one or several underlying .Disclosure: The release of information relevant to a transaction.EEconomic Profit: Net profit after tax less risk-adjusted cost of capital.Economics: The sc

8、ience of the production and consumption of goods and services.Equity: The value of the ownership of an investment.FFinancial Models: Tools used to determine the value of an investment in a company, commodity, currency, government initiative, etc. An analyst may consider past performance, market tren

9、ds, political climate and overall value of the issuer, for example.Fixed Income: Interest-bearing notes, bonds and bills that pay a specified percentage of interest over the life of the loan.Fundamental Analysis: The research approach that considers economic and monetary factors.Future: A contract o

10、bligating the holder to buy or sell a commodity or security at a specific price on a specific date.GGAAP: Generally Accepted Accounting Principles.HHedge: Is the act of protecting a position by balancing risks. Hedges can be either long or short. Hedges are often done with derivative products.Hedge

11、Fund: A fund invested in a way to provide balance against risks taken as a result of other investments.IInterest Rate Risk: Degree to which fluctuations in long and short-term interest rates have a negative influence on the banks result.Investment Bank: Traditionally, a company that prepares financi

12、al offerings for public sale.IPO (Initial Public Offering): The first issue of stock or other securities by a company for sale to the public.Issue: A series or quantity of financial securities made available for sale.JJoint Venture: Cooperative venture between two or more separate legal entities.MMa

13、rket Risk: Risk relating to fluctuations in stock exchange prices and/or interest rates.MTN (Medium-term notes): Bonds with a maturity of 2 to 10 years.Mutual Fund: A fund operated by an investment firm that raises capital from shareholders to invest in stocks, bonds, options, commodities or money m

14、arket securities. OOpen-end Fund: A mutual fund that offers and redeems its shares on a daily basis.Options: The right to buy or sell a commodity or security on a specific date for a predetermined price. The investor forfeits the investment money if the right is not exercised by the option expiratio

15、n date.PPreference Share: Share that receives a fixed rate of dividend prior to ordinary shares.Private Banking: Dedicated to the development and execution of the policy in relation to high net-worth clients and small and medium-sized institutional investors.Private Equity: Investment capital provid

16、ed by individuals or closely-held companies.Public Offerings: Process and documents related to making securities available for sale to the public.QQualitative Research: Research into how an investments results were achieved including the quality of the people, strategies, systems and infrastructure

17、that achieved them.Quantitative Research: Numbers-related research using statistical analysis of past performance of companies, products, segments, etc.SScenario Analysis: Method used to measure and manage the interest rate risk, for instance. Using various assumptions about future interest rate mov

18、ements, net interest revenue is estimated.Securities: Stocks and bonds.Stock: Ownership of a piece of a corporation represented in shares.Syndicate: A group of investors that agrees to purchase securities from an issuer for resale.TTraders: People who buy and sell securities for brokers, dealers, and for their own accounts.TRS (Total Return to Shareholders): Share price appreciation plus dividend yield.VVenture Capital: Investment in risk capital of business for the account and at the risk of the bank.Volatility: Statistical measure for the degree to which market rates fluctuate over time.